Devyani International IPO Subscription Day-2

Devyani International IPO Subscription Day-2
IPO
05/08/2021

The Rs.1,838 crore IPO of Devyani International, consisting of Rs.440 crore fresh issue and Rs.1,398 crore OFS, built on the response from retail investors on Day-2. As per the combined bid details put out by the BSE, Devyani International IPO was subscribed 6.73X overall, with bulk of the demand coming from the retail segment followed by HNI segment. The issue closes for subscription on Friday, 06 August.

As of close of 05 August, out of the 1,125.70 lakh shares on offer, Devyani International saw bids for 7,440.74 lakh shares. This implies an overall subscription of 6.73X. The granular break-up of subscriptions were tilted in favour of retail investors and, to an extent, HNIs too.
 

Devyani International IPO Subscription Status

Category

Subscription Status
Qualified Institutional (QIB) 1.32 Times
Non-Institutional (NII) 6.68 Times
Retail Individual 23.16 Times
Employee 3.12 Times
Total 6.73  Times

 

QIB Portion

The QIB portion saw 1.32X subscription with demand for 805.28 lakh shares against 611.02 shares available; net of anchor placement. On 03 August, Devyani International did anchor placement of Rs.824.87 crore to QIB investors like ADIA, Fidelity, Goldman Sachs, Government of Singapore, MAS, Kuwait Investment Authority etc. 

HNI Portion

The HNI portion got subscribed 6.68X (getting applications for 1,945.36 lakh shares against the quota of 305.51 lakh shares). Funded applications and corporate applications, come in on last day, but it promises to be a solid subscription at the end of Day-3. 

Retail Individuals

The retail portion got subscribed 23.16X times at the end of Day-2, showing strong retail appetite. Among retail investors; out of the 203.67 lakh shares on offer, valid bids were received for 4,673.03 lakh shares, of which bids for 3,672.96 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.86-Rs.90) and has allocated a quota of 10% for retail and 75% for QIBs.
 

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